Question 1

Apple has the following financial statement information for fiscal year 2001 (in millions):

Income Statement	2001	Balance Sheet	2001	2000
Revenues	$5,363	Cash and Marketable Securities	$2,310	$1,191
Cost of Goods Sold	4,026	Inventory	11	33
Gross Profit	1,337	Total Current Assets	5,143	5,427
SG&A Exp.	1,568	Total Assets	6,021	6,803
Net Income (Net Loss)	-25	Total Current Liabilities	1,518	1,933
		Total Liabilities	2,101
		Total Equity	3,920	4,107
Sales (Year 2000)	7,983	Cash Flow Statement
Net Income (Year 2000)	786	Cash Flows from Operations	185

Using common-size analysis, Apple's total liabilities for 2001 is:

	a.	39.2%
	b.	53.6%
	c.	38.7%
	d.	34.9%

Question 2

Following Question 1, Apple's operating cash flow ratio for 2001 is:

	a.	12.2%
	b.	3.5%
	c.	3.1%
	d.	3.6%

Question 3

Following Question 1, Apple's inventory turnover ratio for 2001 is:

	a.	243.8x
	b.	547.4x
	c.	183.0x
	d.	366.0x

Question 4

Following Question 1, Apple's working capital turnover ratio for 2001 is:

	a.	1.13x
	b.	2.32x
	c.	1.48x
	d.	1.51x

Question 5

Following Question 1, Apple's debt ratio for 2001 is:

	a.	34.9%
	b.	39.2%
	c.	25.2%
	d.	53.6%

Question 6

Following Question 1, Apple's gross margin for 2001 is:

	a.	24.8%
	b.	1.9%
	c.	22.2%
	d.	75.1%

Question 7

Following Question 1 and using common-size analysis, Apple's Gross Profit is for 2001 is:

	a.	1.9%
	b.	24.9%
	c.	100.0%
	d.	22.2%

Question 8

Following Question 1, Apple's current ratio for 2001 is:

	a.	338.8%
	b.	152.2%
	c.	29.5%
	d.	244.8%

Question 9

Following Question 1, Apple's total asset turnover for 2001 is:

	a.	89.1%
	b.	41.8%
	c.	119.6%
	d.	83.6%

Question 10

Following Question 1, Apple's debt to equity ratio for 2001 is:

	a.	38.7%
	b.	34.9%
	c.	53.6%
	d.	39.2%

Question 11

Following Question 1, Apple's return on sales ratio for 2001 is:

	a.	0.5%
	b.	24.9%
	c.	100.0%
	d.	9.8%

Question 12

The following financial information is given for General Electric for fiscal year 2001 (in thousands):

Sales	$125,679	Cash	$  9,082
Cost of Goods Sold	42,008	Inventory	8,565
Gross Profit	83,671	Current Assets	340,708
Net Income	13,684	Total Assets	495,023
Operating Cash Flow	32,195	Current Liabilities	198,904
Earnings per share	1.38	Total Liabilities	440,111
Dividends per share	0.66	Total Equity	54,824
Net Income (fiscal year 2000)	12,735	Total Assets (fiscal year 2000)	437,006
Sales (fiscal year 2000)	129,417	Inventory (fiscal year 2000)	7,812

In GE's 2001 common-size income statement, Net Income is equal to:

	a.	10.9%
	b.	2.8%
	c.	16.4%
	d.	100.0%

Question 13

Following Question 12, in GE's 2001 common-size balance sheet, Current Liabilities are equal to:

	a.	45.2%
	b.	158.3%
	c.	362.9%
	d.	40.2%

Question 14

Following Question 12, the Cash Ratio for GE in 2001 is:

	a.	58.4%
	b.	4.6%
	c.	16.6%
	d.	2.1%

Question 15

Following Question 12, GE's 2001 Long-term Debt to Equity Ratio is:

	a.	9.0
	b.	4.4
	c.	8.0
	d.	3.6

Question 16

Following Question 12, GE's 2001 Return on Assets is:

	a.	25.0%
	b.	2.8%
	c.	2.9%
	d.	27.0%

  

Question 17

Following Question 12, GE's 2001 Dividend Payout is:

	a.	47.8%
	b.	0.01%
	c.	10.9%
	d.	42.5%

Question 18

Which of the following ratios is part of the Du Pont Model:

	a.	Dividend Payout
	b.	Operating Cash Flow Ratio
	c.	Current Ratio
	d.	Return on Equity

Question 19

Using the Du Pont Model, solvency (leverage) is measured as:

	a.	Sales / average total assets
	b.	Average total assets / average common equity
	c.	Sales / average working capital
	d.	Net income / sales

Question 20

Using the Du Pont Model, return on assets can be calculated as:

	a.	Return on Sales x Return on Assets
	b.	Return on Equity x Total Assets
	c.	Return on Sales x Asset Turnover
	d.	Gross Margin x Inventory Turnover

Question 21

A limitation on the use of ratios analysis is:

	a.	Relative size of the companies is not considered
	b.	The numbers used are assumed to be correct
	c.	Important qualitative issues such as business strategy are not involved
	d.	It can be difficult to determine what results are good or bad
	e.	All of the above

Question 22

The following data is given for annual operations for Hilton Hotels (in millions):

Hilton

	1997	1998	1999	2000	2001
Revenue	$1,475	$1,769	$1,959	$3,177	$2,632
Gross Profit	395	464	567	1,008	686
Net Income	250	297	174	272	166

Given the data above, the growth analysis for Hilton shows revenue growth for 1999 of:

	a.	10.7%
	b.	34.4%
	c.	8.9%
	d.	24.7%

Question 23

Following Question 22, the growth analysis for Hilton shows net income growth for 2000 of:

	a.	39.0%
	b.	36.0%
	c.	56.3%
	d.	8.8%

Question 24

Following Question 22, which year would be used as the base year for Hilton?

	a.	1997
	b.	1998
	c.	2001
	d.	2000

Question 25

Following Question 22, trend analysis for Hilton shows gross profit for 2001 of:

	a.	413.2
	b.	26.1
	c.	173.7
	d.	68.1

Question 26

Below are quarterly performance data for Marriott:

	Mar 2002	Dec 2001	Sept 2001	Jun 2001	Mar 2001
Revenue	$2,364	$2,868	$2,373	$2,450	$2,461
Net Income	82	-116	101	130	121

The quarterly % change in revenue for March 2002 from the same quarter one ago was:

	a.	3.5%
	b.	17.6%
	c.	96.1%
	d.	3.9%

Question 27

Following Question 26 and using common-size, September 2001 net income would be:

	a.	4.3%
	b.	100.0%
	c.	18.8%
	d.	16.5%

Question 28

Big Bill Computer has a stock price of $50, an EPS of $4.80, projected earnings growth of 8% a year and pays dividends of $2 per share. It is an investment fit to which fund?

	a.	Gotrocks Growth Fund
	b.	Gotrocks Income Fund
	c.	Gotrocks Value Fund
	d.	Gotrocks Money Market Fund

Question 29

Sell Co. has a stock price of $15, 2.3 millions shares outstanding, total stockholders equity of $12.6 million and total assets of $20 million. Sell Co. has a market to book ratio of:

	a.	$11.6 million
	b.	2.7x
	c.	1.7x
	d.	1.2x

Question 30

Following Question 29, Sell Co. has an intrinsic value of $18. What is the intrinsic value to price ratio?

	a.	1.7
	b.	$41.4 million
	c.	2.7
	d.	1.2

Question 31

The following financial information is given for Du Pont and Dow for fiscal year 2001:

	Du Pont	Dow
Closing Stock Price, Feb. 15, 2002	44.90	30.57
EPS (actual for 2001)	4.50	-0.46
EPS (forecast for 2002)	1.60	0.52
Dividend per share	1.40	1.34
5 year forecast earnings growth rate	10.2%	10.0%
Intrinsic value per share	103.84	33.38

Given the Feb. 15 stock prices, Du Pont & Dow have PE ratios (based on year-ahead EPS forecast) of:

	a.	28.06 & 66.46, respectively
	b.	32.07 & 22.81, respectively
	c.	9.98 & 58.79, respectively
	d.	28.06 & 58.79, respectively

Question 32

Following Question 31, given the Feb. 15 stock prices, Du Pont & Dow have dividend yields of:

	a.	3.56% & 1.70%, respectively
	b.	3.12% & 4.38%, respectively
	c.	31.11% & 2.58%, respectively
	d.	13.72% & 13.40%, respectively

Question 33

Following Question 31, given the Feb. 15 stock prices, PE based on actual EPS & 5-year-ahead earnings forecast, Du Pont has a PEG of:

	a.	2.75
	b.	3.14
	c.	0.98
	d.	4.40

Question 34

Following Question 31, based on PEG, which company seems to be the better investment opportunity?

	a.	Dow because the PEG is less than the benchmark cutoff of 1
	b.	Du Pont because of the very high PEG
	c.	Du Pont because the PEG is less than the benchmark cutoff of 1
	d.	Dow because of the very high PEG

Question 35

Following Question 31, based on intrinsic value to share price, Du Pont and Dow are:

	a.	Du Pont is undervalued but Dow is overvalued
	b.	Both overvalued
	c.	Du Pont is overvalued but Dow is undervalued
	d.	Both are undervalued

Question 36

The following financial information is given for Hilton & Marriott:

	Hilton	Marriott
Closing Stock Price, October 8, 2002	10.54	27.46
EPS (actual for 2001)	0.45	0.92
EPS (forecast for 2002)	0.51	1.83
Dividend per share	0.08	0.28
5 year forecast earnings growth rate	15.1%	15.7%
Common shares outstanding (thousands)	376,025	241,801

Given the October 8 stock prices:

	a.	Based on actual EPS Marriott has a higher PE than Hilton
	b.	Based on either actual or forecast EPS, Marriott has a PE almost double that of Hilton
	c.	Hilton s PE rises from actual to forecast because of poor performance
	d.	Based on forecast EPS Marriott has a higher PE than Hilton

Question 37

Following Question 36, based on the dividend yields for Hilton & Marriott:

	a.	Both are excellent fits to the Gotrocks Income Fund
	b.	Marriott has a higher yield than Hilton at 1.0% versus 0.8% for Hilton
	c.	Hilton has a high yield of 17.8%
	d.	Both Hilton & Marriott pay out dividends higher than actual earnings

Question 38

Following Question 36, given the October 8 stock prices, PE based on forecast EPS & 5-year-ahead earnings forecast, Hilton & Marriott have PEGs of:

	a.	1.55 & 1.90, respectively
	b.	0.70 & 1.75, respectively
	c.	20.67 & 15.01, respectively
	d.	1.37 & 0.96, respectively

Question 39

Following Question 36, based on PEG (using forecast EPS), which company seems to be the better investment opportunity?

	a.	Hilton because of its very high PEG
	b.	Hilton because its PEG is lower than Marriott
	c.	Marriott because of the very high PEG
	d.	Marriott because the PEG is less than the benchmark cutoff of 1

Question 40

Following Question 36, which company has the higher market capitalization?

	a.	Marriott because its stock price is more than twice as high as Hilton
	b.	Hilton valued at $14.72 billion versus Marriott at $11.89 billion
	c.	Marriott valued at $6.64 billions versus Hilton at $3.96 billion
	d.	Hilton because its book value is much higher than Marriott

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Alice J. and Bruce M. Byrd are married taxpayers who file a joint return. Their Social Security numbers are 123-45-6789 and 111-11-1112, respectively. Alice's birthday is September 21, 1971, and Bruce's is June 27, 1970. They live at 473 Revere Avenue, Lowell, MA 01850. Alice is the office manager for Lowell Dental Clinic, 433 Broad Street, Lowell, MA 01850 (employer identification number 98-7654321). Bruce is the manager of a Super Burgers fast-food outlet owned and operated by Plymouth Corporation, 1247 Central Avenue, Hauppauge, NY 11788 (employer identification number 11-1111111).

The following information is shown on their Wage and Tax Statements (Form W-2) for 2018.

Line	Description	Alice	Bruce
1	Wages, tips, other compensation	$58,000	$62,100
2	Federal income tax withheld	4,500	5,300
3	Social Security wages	58,000	62,100
4	Social Security tax withheld	3,596	3,850
5	Medicare wages and tips	58,000	62,100
6	Medicare tax withheld	841	900
15	State	Massachusetts	Massachusetts
16	State wages, tips, etc.	58,000	62,100
17	State income tax withheld	2,950	3,100

The Byrds provide over half of the support of their two children, Cynthia (born January 25, 1994, Social Security number 123-45-6788) and John (born February 7, 1998, Social Security number 123-45-6786). Both children are full-time students and live with the Byrds except when they are away at college. Cynthia earned $6,200 from a summer internship in 2018, and John earned $3,800 from a part-time job.

During 2018, the Byrds provided 60% of the total support of Bruce's widower father, Sam Byrd (born March 6, 1942, Social Security number 123-45-6787). Sam lived alone and covered the rest of his support with his Social Security benefits. Sam died in November, and Bruce, the beneficiary of a policy on Sam's life, received life insurance proceeds of $1,600,000 on December 28.

The Byrds had the following expenses relating to their personal residence during 2018:

Property taxes	$5,000
Qualified interest on home mortgage (acquisition indebtedness)	8,700
Repairs to roof	5,750
Utilities	4,100
Fire and theft insurance	1,900

The Byrds had the following medical expenses for 2018:

Medical insurance premiums	$4,500
Doctor bill for Sam incurred in 2017 and not paid until 2018	7,600
Operation for Sam	8,500
Prescription medicines for Sam	900
Hospital expenses for Sam	3,500
Reimbursement from insurance company, received in 2018	3,600

The medical expenses for Sam represent most of the 60% that Bruce contributed toward his father's support.

Other relevant information follows:

• When they filed their 2017 state return in 2018, the Byrds paid additional state income tax of $900.
• During 2018, Alice and Bruce attended a dinner dance sponsored by the Lowell Police Disability Association (a qualified charitable organization). The Byrds paid $300 for the tickets. The cost of comparable entertainment would normally be $50.
• The Byrds contributed $5,000 to Lowell Presbyterian Church and gave used clothing (cost of $1,200 and fair market value of $350) to the Salvation Army. All donations are supported by receipts, and the clothing is in very good condition.
• Via a crowdfunding site (gofundme.com), Alice and Bruce made a gift to a needy family who lost their home in a fire ($400). In addition, they made several cash gifts to homeless individuals downtown (estimated to be $65).
• In 2018, the Byrds received interest income of $2,750, which was reported on a Form 1099–INT from Second National Bank, 125 Oak Street, Lowell, MA 01850 (Employer Identification Number 98-7654322).
• The home mortgage interest was reported on Form 1098 by Lowell Commercial Bank, P.O. Box 1000, Lowell, MA 01850 (Employer Identification Number 98-7654323). The mortgage (outstanding balance of $425,000 as of January 1, 2018) was taken out by the Byrds on May 1, 2014.
• Alice's employer requires that all employees wear uniforms to work. During 2018, Alice spent $850 on new uniforms and $566 on laundry charges.
• Bruce paid $400 for an annual subscription to the Journal of Franchise Management and $741 for annual membership dues to his professional association.
• Neither Alice's nor Bruce's employer reimburses for employee expenses.
• The Byrds do not keep the receipts for the sales taxes they paid and had no major purchases subject to sales tax.
• All members of the Byrd family had health insurance coverage for all of 2018.
• This year the Byrds gave each of their children $2,000, which was then deposited into their Roth IRAs.
• Alice and Bruce paid no estimated Federal income tax. Neither Alice nor Bruce wants to designate $3 to the Presidential Election Campaign Fund.

Required:

Compute the Alice J. and Bruce M. Byrd's Federal income tax for 2018. by providing the following information that would be reported on Form 1040, Schedules A and B. If they have overpaid, they want the amount to be refunded to them.

Provide the following that would be reported on the Byrd's Form 1040:

1. Filing status and dependents: The taxpayers' filing status:
Married filing jointly

Indicate whether the following individuals can be claimed as a dependent by Alice and Bruce.
Cynthia:  No
Sam:   Yes
John:   Yes

2. Calculate taxable gross income.
$

3. Calculate the total deductions for AGI.
$

4. Calculate adjusted gross income.
$

5. Calculate the greater of the standard deduction or itemized deductions.
$

6. Calculate total taxable income.
$

7. Calculate the income tax liability.
$

8. Calculate any other taxes due.
$

9. Calculate the total tax credits available.
$

10. Calculate total withholding and tax payments.
$

11. Calculate the amount overpaid (refund):
$

12. Calculate the amount of taxes owed:

$

Provide the following that would be reported on the Alice and Bruce Byrd's Schedule A:

1. Calculate the deduction allowed for medical and dental expenses. (Round computations to the nearest dollar.)
$

2. Calculate the allowable deduction for taxes.
$

3. Calculate the deduction for interest.
$

4. Calculate the charitable deduction allowed.
$

5. Calculate total itemized deductions.
$

Step 4:

What percent of the variation in corn yield is explained by these two variables? Give your answers to 2 decimal places and do not include units in your answers.

Percent explained by the model = %

Step 5:

Using the regression equation, find a point estimate for the corn yield for 2014 Assume that the soy bean yield for that year is 42.

Point Estimate = (Give your answer to 1 decimal place.)

ID      Year    CornYield       SoyBeanYield
1       1957    48.3    23.2
2       1958    52.8    24.2
3       1959    53.1    23.5
4       1960    54.7    23.5
5       1961    62.4    25.1
6       1962    64.7    24.2
7       1963    67.9    24.4
8       1964    62.9    22.8
9       1965    74.1    24.5
10      1966    73.1    25.4
11      1967    80.1    24.5
12      1968    79.5    26.7
13      1969    85.9    27.4
14      1970    72.4    26.7
15      1971    88.1    27.5
16      1972    97      27.8
17      1973    91.3    27.8
18      1974    71.9    23.7
19      1975    86.4    28.9
20      1976    88      26.1
21      1977    90.8    30.6
22      1978    101     29.4
23      1979    109.5   32.1
24      1980    91      26.5
25      1981    108.9   30.1
26      1982    113.2   31.5
27      1983    81.1    26.2
28      1984    106.7   28.1
29      1985    118     34.1
30      1986    119.4   33.3
31      1987    119.8   33.9
32      1988    84.6    27.0
33      1989    116.3   32.3
34      1990    118.5   34.1
35      1991    108.6   34.2
36      1992    131.5   37.6
37      1993    100.7   32.6
38      1994    138.6   41.4
39      1995    113.5   35.3
40      1996    127.1   37.6
41      1997    126.7   38.9
42      1998    134.4   38.9
43      1999    133.8   36.6
44      2000    136.9   38.1
45      2001    138.2   39.6
46      2002    129.3   38.0
47      2003    142.2   33.9
48      2004    160.3   42.2
49      2005    147.9   43.1
50      2006    149.1   42.9
51      2007    150.7   41.7
52      2008    153.9   39.7
53      2009    164.7   44.0
54      2010    152.8   43.5
55      2011    147.2   41.9
56      2012    123.4   39.8
57      2013    158.8   43.3

		Question 1 Global Health focuses on: A. Health issues that transcend national boundaries B. Development and implementation of solutions which often require global cooperation C. Health equity among nations D. All of the above Question 2 In 2015, the maternal mortality ratio was the highest in: A. Sub-Saharan Africa B. South Asia C. Middle East and N. Africa D. Latin America and Caribbean Question 3 Which one of these is NOT a reform enacted by the WHO after the Ebola outbreak: A. Establishment of the Health Emergencies Programme B. Establishment/support of an emergency contingency fund C. Establishment/support of a global health emergency workforce D. Creation of a global health committee within the UN Security Council Question 4 The ____ is responsible for administering the International Health Regulations (IHR) the only internationally-agreed set of rules governing the timely and effective response to outbreaks and other health emergencies that may spread beyond the borders of an affected country. A. Bill and Melinda Gates Foundation B. CDC C. WHO D. None of the above Question 5 According to the video on the social determinants of health, the great health inequalities which exist between and within countries is mostly due to lack of access to health care. True False Question 6 In this week’s reading on Ebola, Mackey concludes that complex global health challenges should be borne by the WHO alone. True False Question 7 Which one of the following is NOT a social determinant of health established by the WHO’s Commission on the Social Determinants of Health: A. social gradient B. social exclusion C. stress D. social media Question 8 The Millenium Development Goals and the Sustainable Development Goals have which goal in common: A. End poverty B. Affordable and clean energy C. Responsible consumption and production D. A and C Question 9 One of the major global health challenges facing the world today is antimicrobial resistance. True False Question 10 In the 21st century, famines have increased in the world and are at the highest peak since: 1945 1957 1998 None of the above Question 11 In Sierra Leone one out of every ____________mothers has a lifetime risk of dying from childbirth-related issues. A. 100 B. 545 C. 17 D. 65 Question 12 Which one of these is a specific cause of pregnancy related morbidity and leads to the woman being stigmatized, as shown in the documentary on Sierra Leone: A. anemia B. hemorrhage C. obstetric fistula D. pregnancy-related hypertension

Year	C	Yd	wealth	interest
1947	976.4	1035.2	5166.8	-10.351
1948	998.1	1090.0	5280.8	-4.720
1949	1025.3	1095.6	5607.4	1.044
1950	1090.9	1192.7	5759.5	0.407
1951	1107.1	1227.0	6086.1	-5.283
1952	1142.4	1266.8	6243.9	-0.277
1953	1197.2	1327.5	6355.6	0.561
1954	1221.9	1344.0	6797.0	-0.138
1955	1310.4	1433.8	7172.2	0.262
1956	1348.8	1502.3	7375.2	-0.736
1957	1381.8	1539.5	7315.3	-0.261
1958	1393.0	1553.7	7870.0	-0.575
1959	1470.7	1623.8	8188.1	2.296
1960	1510.8	1664.8	8351.8	1.511
1961	1541.2	1720.0	8971.9	1.296
1962	1617.3	1803.5	9091.5	1.396
1963	1684.0	1871.5	9436.1	2.058
1964	1784.8	2006.9	10003.4	2.027
1965	1897.6	2131.0	10562.8	2.112
1966	2006.1	2244.6	10522.0	2.020
1967	2066.2	2340.5	11312.1	1.213
1968	2184.2	2448.2	12145.4	1.055
1969	2264.8	2524.3	11672.3	1.732
1970	2317.5	2630.0	11650.0	1.166
1971	2405.2	2745.3	12312.9	-0.712
1972	2550.5	2874.3	13499.9	-0.156
1973	2675.9	3072.3	13081.0	1.414
1974	2653.7	3051.9	11868.8	-1.043
1975	2710.9	3108.5	12634.4	-3.534
1976	2868.9	3243.5	13456.8	-0.657
1977	2992.1	3360.7	13786.3	-1.190
1978	3124.7	3527.5	14450.5	0.113
1979	3203.2	3628.6	15340.0	1.704
1980	3193.0	3658.0	15965.0	2.298
1981	3236.0	3741.1	15965.0	4.704
1982	3275.5	3791.7	16312.5	4.449
1983	3454.3	3906.9	16944.8	4.691
1984	3640.6	4207.6	17526.7	5.848
1985	3820.9	4347.8	19068.3	4.331
1986	3981.2	4486.6	20530.0	3.768
1987	4113.4	4582.5	21235.7	2.819
1988	4279.5	4784.1	22332.0	3.287
1989	4393.7	4906.5	23659.8	4.318
1990	4474.5	5014.2	23105.1	3.595
1991	4466.6	5033.0	24050.2	1.803
1992	4594.5	5189.3	24418.2	1.007
1993	4748.9	5261.3	25092.3	0.625
1994	4928.1	5397.2	25218.6	2.206
1995	5075.6	5539.1	27439.7	3.333
1996	5237.5	5677.7	29448.2	3.083
1997	5423.9	5854.5	32664.1	3.120
1998	5683.7	6168.6	35587.0	3.584
1999	5968.4	6320.0	39591.3	3.245
2000	6257.8	6539.2	38167.7	3.576

a. please regress consumption on income and a constant term using formulas, write the calculations. (use word document)

b. Calculate the variance of the marginal propensity to consume (MPC)

c. Calculate R2 of the regression

Carter Cleaning Centers

Jennifer Carter graduated from State University in June 2005, and, after considering several job offers, decided to do what she always planned to do go into business with her father, Jack Carter. Jack Carter opened his first Laundromat in 1995 and his second in 1998. The main attraction of these coin laundry businesses for him was that they were capital- rather than labor-intensive. Thus, once the investment in machinery was made, the stores could be run with just one unskilled attendant and none of the labor problems one normally expects from being in the retail service business. The attractiveness of operating with virtually no skilled labor notwithstanding, Jack had decided by 1999 to expand the services in each of his stores to include the dry cleaning and pressing of clothes. He embarked, in other words, on a strategy of related diversification by adding new services that were related to and consistent with his existing coin laundry activities. He added these for several reasons. He wanted to better utilize the unused space in the rather large stores he currently had under the lease. Furthermore, he was, as he put it, tired of sending out the dry cleaning and pressing work that came in from our coin laundry clients to a dry cleaner 5 miles away, who then took most of what should have been our profits. To reflect the new, expanded line of services, he renamed each of his two stores Carter Cleaning Centers, and was sufficiently satisfied with their performance to open four more of the same type of stores over the next 5 years. Each store had its own on-site manager and, on average, about seven employees and annual revenues of about $500,000. It was this six-store chain that Jennifer joined after graduating. Her understanding with her father was that she would serve as a troubleshooter/consultant to the elder Carter with the aim of both learning the business and bringing to it modern management concepts and techniques for solving the business problems and facilitating its growth.

Questions:

1. In line with your course, define the significance of the case?

2. The case narrated that the owner was capital oriented rather than labor-intensive. As an HRM student, what do you think about the philosophy of the owner? Which suggestions you will recommend to utilize labour oriented philosophy in the organization?

3. What suggestions you will provide to Jennifer to link HRM policies and practices with the differentiation strategy of the organization? Justify your answer.

Piderit (2000) believes that the definition of the term resistance must incorporate a much broader scope. She states that "a review of past empirical research reveals three different emphases in conceptualizations of resistance: as a cognitive state, as an emotional state, and as a behavior" (p. 784). The notion that employee resistance can be overcome cognitively suggests that negative thoughts or beliefs about the change exist. Piderit sites, "Watson (1982) who suggests that what is often labeled as resistance is, in fact, only reluctance. Armenakis, Harris, and Mossholder (1993) define resistance in behavioral terms but suggest that another state precedes it: is a cognitive state they call (un)-readiness" (2000, p. 785). Others attempt to define employee resistance based on the emotional factors exhibited as a result of organizational change. From their early study, Coch and French (1948) acknowledged aggression and frustration in employees as the emotional factors that caused undesirable behaviors and resistance to change. Argyris and Schon (1974, 1978) noted that resistance to change is a defense mechanism caused by frustration and anxiety (Piderit, 2000). The final aspect of Piderit's conceptualization focuses on individual behavior in an attempt to define employee resistance to change. She cites Brower and Abolafia (1995) who define resistance as a particular kind of action or inaction. Ashforth and Mael (1998) define resistance as intentional acts of commission (defiance) or omission. Shapiro, Lweicki, and Devine (1995) suggest that willingness to deceive authorities constitutes resistance to change (2000). Piderit (2000) claims that: although these conceptualizations of overlap somewhat, they diverge in important ways. Finding a way to bring together these varying emphases should deepen our understanding of how employees respond to proposed organizational changes. Each of these three conceptualizations of resistance - as a behavior, an emotion, or a belief - has merit and represents an important part of our experience of response to change. Thus, any definition focusing on one view at the expense of the others seems incomplete (p. 785). According to Dent & Goldberg (1999), individuals aren't really resisting the change, but rather they may be resisting the loss of status, loss of pay, or loss of comfort. They claim that, "it is time that we dispense with the phrase resistance to change and find a more useful and appropriate models for describing what the phrase has come to mean - employees are not wholeheartedly embracing a change that management wants to implement" (p. 26). Taken from : Resistance to Change

IN YOUR OWN WORDS: What is your understanding of these three types of resistance (use your own words)? Give an example of each type.

SQL ONLY. WRITE CLEAR AND CORRECT ANSWERS.

Consider the following relations (PRIMARY KEYS ARE WRITTEN IN BOLD)
departments (dept_no, dept_name)
dept_emp (emp_no, dept_no, from_date, to_date)
dept_manager (dept_no, emp_no, from_date, to_date)
employees (emp_no, birth_date, first_name, last_name, gender, hire_date)

salaries (emp_no, salary, from_date, to_date)
titles(emp_no, title, from_date, to_date)

Write the following queries in SQL. No duplicates should be printed in any of the answers.

1. List all the titles for which there is at least one employee having the title.

2. Find the current employee(s) (only id) who has/have the most (highest) experience working in a department [across all departments]. Here, we are referring to working only in one department. For example, let's assume there are only two employees: A and B. Now, A has been working in department X for 15 years and B worked in department X for 10 years and is working in department Y for 8 years. Although B has worked for a total of 18 years, he worked for 10 years in one department. So, for this query the output should be the id of A because A has worked for 15

   years in one department which is the highest.

3. Find the names (both first and last) and current salary of all employees who were hired after 31st

   December 1998.

   (Hint: The to_date for current salary is '9999-01-01')

4. Find the id and name (both first and last) of all employees who are currently not in the

   'Development' department and whose first name start with 'Tom'.

5. Find the names (both first and last) and current salaries of all employees who earn more than the

   current average salary of all employees. List them in the descending order based on their salary

   (highest salary first).

6. Some employees have worked in multiple departments. Find the names (both first and last) and

   the number of departments of all the female employees who have worked in more than one

   department.

7. Write SQL query to find out the name and current average salary of the department that has the

   maximum current average salary?

8. Find the employee id of the current managers who currently manages more than 16000

   employees.

9. Find the name and current average salary of the departments whose current average salary is

   more than the current average salary of 'Development' department.

10. Find the name of the employees who currently have the same salary but currently works in

    different department.

SQL ONLY. WRITE CLEAR AND CORRECT ANSWERS.

imagine you are the CEO of Salomon Brothers, where serious and terrible ethical breaches harmed their stakeholders, especially their employees. discuss what specific concrete steps you would take to restore your company’s reputation if it’s been sullied (dirtied)? why are these steps important?

Following is "Salomon Brothers" case

Salomon Brothers Before its implosion in 1990, Salomon Brothers was one of the premier global investment banks—perhaps the most direct competitor of the mighty Goldman Sachs. In December 1990, however, the head of Salomon’s government bond trading desk, Paul Mozer, decided to test the regulatory resolve of the U.S. Treasury. Annoyed by the federal limits on the percentage of Treasury bonds any one firm could bid for in Treasury auctions—the ceiling was 35 percent—Mozer devised a plan to evade the regulation. He submitted a bid for Salomon Brothers, and he submitted an unauthorized bid in the name of one of his customers. The two bids combined represented 46 percent of the auction—a clear violation of the rules. Mozer repeated this several times and in April 1991, he described the tactic to four Salomon executives: Chairman John Gutfreund, President Thomas W. Strauss, Vice Chairman John W. Meriwether, and General Counsel Donald M. Feuerstein. These executives told Mozer to stop his scheme but did not report him to the Securities and Exchange Commission. In June, the SEC subpoenaed Salomon for its auction records. In August, Salomon finally alerted the SEC to Mozer’s activities. Immediately following the disclosure to the SEC, Mozer was suspended from his job; shortly afterward, the board of directors asked the four Salomon executives to resign from the firm and fired Salomon’s outside law firm. The board named one of its own members, Warren Buffett, as interim chairman.61 The publicity generated by the Salomon scandal was devastating to the firm and its shareholders. Its market value dropped by over one‐third—$1.5 billion—in the week following the disclosure. Its debt was downgraded by various rating agencies, and major banks reevaluated Salomon’s loan terms. Because of the firm’s decreased liquidity, its ability to trade was dramatically reduced. In addition to the immediate financial debacle, teams of Salomon Brothers personnel left the firm. Weakened by the bad press and the defections of talent, Salomon Brothers managed to remain independent until 1998, when it was acquired by the Travelers Group and eventually it became part of Citigroup. This is just one more example of how personal hubris (on the part of Mozer) and refusal to report such hubris to the regulators (on the part of the firm’s executive team) can result in a death sentence, especially in the financial industry where reputation is everything.

SQL ONLY. WRITE CLEAR AND SIMPLE ANSWERS.

Consider the following relations (PRIMARY KEYS ARE WRITTEN IN BOLD) departments (dept_no, dept_name) dept_emp (emp_no, dept_no, from_date, to_date) dept_manager (dept_no, emp_no, from_date, to_date) employees (emp_no, birth_date, first_name, last_name, gender, hire_date) salaries (emp_no, salary, from_date, to_date) titles(emp_no, title, from_date, to_date) Write the following queries in SQL. No duplicates should be printed in any of the answers. List all the titles for which there is at least one employee having the title. Find the current employee(s) (only id) who has/have the most (highest) experience working in a department [across all departments]. Here, we are referring to working only in one department. For example, let's assume there are only two employees: A and B. Now, A has been working in department X for 15 years and B worked in department X for 10 years and is working in department Y for 8 years. Although B has worked for a total of 18 years, he worked for 10 years in one department. So, for this query the output should be the id of A because A has worked for 15 years in one department which is the highest. Find the names (both first and last) and current salary of all employees who were hired after 31st December 1998. (Hint: The to_date for current salary is '9999-01-01') Find the id and name (both first and last) of all employees who are currently not in the 'Development' department and whose first name start with 'Tom'. Find the names (both first and last) and current salaries of all employees who earn more than the current average salary of all employees. List them in the descending order based on their salary (highest salary first). Some employees have worked in multiple departments. Find the names (both first and last) and the number of departments of all the female employees who have worked in more than one department. Write SQL query to find out the name and current average salary of the department that has the maximum current average salary? Find the employee id of the current managers who currently manages more than 16000 employees. Find the name and current average salary of the departments whose current average salary is more than the current average salary of 'Development' department. Find the name of the employees who currently have the same salary but currently works in different department.

SQL ONLY. WRITE CLEAR AND SIMPLE ANSWERS. READ THE QUESTIONS CAREFULLY. IF AN ANSWER IS WRONG, I WILL DOWNVOTE.